Focus remains on the US with the publication of more crucial economic data.

The EURUSD ended the session flat overnight after opening at $1.16593. It traded in a tight range early before falling away to a low of $1.16259 mid-session. The euro bounced off those lows, hitting a high of $1.16864 late in the day. It has come off those highs and is now trading at $1.16680. The GBPUSD made some modest gains overnight as the pound continues to strengthen. The pair began the day at $1.27169 and fell to lows of $1.26893 mid-session. Hitting that low seemed to breathe life into the pound as it raced to a high of $1.27797 a few hours later. It gave up some of those gains before making another run up, eventually closing at $1.27398. It is now trading at $1.27506.

Indices steadied themselves overnight, halting the sell-off that occurred during the previous trading day. The Dow opened at 26,787.90 and was reasonably flat for the first half of the day, sliding to a low of 26,530.09 heading into late trading. It bounced off those lows and rallied to a high of 27,093.50 before closing at 26,857.90. It is now trading at 26,954.30. The Dax was more productive overnight, pushing out a solid gain. The German index opened the day at 12,504.29 and fell to lows of 12,448.10 early. The march up started shortly afterwards and continued into late trading, where the Dax peaked at 12,689.23 before closing at 12,619.96. It is now trading at 12,698.90.

The day ahead sees the publication of more significant data, this time in the shape Durable and Core Durable Goods Orders. Durable orders are expected to grow by 1.1%, while core orders are expected to increase by 1.0%, down from 11.4% and 2.6% respectively.

Other data published today includes:

US – FOMC Member John Williams speaks

Europe – M3 Money Supply, European Private Loans

UK – Public Sector Net Borrowing, BoE Quarterly Bulletin

Disclaimer: The information in this website is of a general nature only and the advice has been prepared without taking account of your objectives, financial situation or needs. Accordingly, before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs. We recommend you seek independent advice if necessary.